Stock futures point lower after rollercoaster session

FAN Editor

US stocks dip as technology stocks continue to slide

Former Dallas Fed advisor Danielle DiMartino Booth and S&P Investment Advisory Services portfolio manager Erin Gibbs discuss the sharp increase in U.S. government bond yields and the decline in the technology sector.

Equity futures are cautiously lower, after a day that saw stocks pare losses before the close.

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Dow Jones futures were lower by 0.14 percent. The S&P 500 slipped 0.16 percent and the Nasdaq Composite was off 0.10 percent.

U.S. stocks see-sawed Monday between sharp losses and modest gains as investors gauged higher interest rates and overseas weakness with the impending earnings season, which should provide more good news about companies’ bottom lines.

The Dow Jones Industrial Average rose 39.73 points, or 0.15 percent, to 26,486.78. The S&P 500 fell 1.14 points to 2,884.43. The Nasdaq Composite was down 52.5 points, or 0.67 percent, at 7,735.95.

Ticker Security Last Change %Chg
I:DJI DOW JONES AVERAGES 26486.78 +39.73 +0.15%
SP500 S&P 500 2884.43 -1.14 -0.04%
I:COMP NASDAQ COMPOSITE INDEX 7735.9488 -52.50 -0.67%

The Dow snapped a two-day losing streak. However, Major indexes have been under pressure since last week, when a bond selloff sent Treasury yields to multiyear highs.

The technology sector dragged down everything from chip makers to social-media companies to software developers.

U.S. investors will soon turn their attention to corporate earnings. This week marks the kickoff of earnings season, with the big banks reporting on Friday. Expectations are lofty heading into this season.

In Asia on Tuesday, the Shanghai Composite  was rebounding by 0.5 percent, after plunging 3.7 percent on Monday.

Hong Kong’s Hang Seng index added 0.4 percent.

Japan’s Nikkei ended the day down 1.3 percent.

In Europe, London’s FTSE gained 0.2 percent, Germany’s DAX and France’s CAC were up 0.14 percent.

FOX Business’ Leia Klingel contributed to this article.

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